■ put-side pain■ call-side painTotal payout option writers would owe at each settle price (both sides, all open interest, ×100 shares) — low settles hurt put writers, high settles hurt call writers. The minimum — 920 — is the max pain price.
Open interest by strike · Fri, Sep 25
■ calls (up)■ puts (down)COST open contracts per strike for Fri, Sep 25.
Open-interest change — building vs unwinding
Needs two observed snapshot days for this expiration — the comparison appears automatically once the next weekday snapshot lands. We diff real observations only; nothing is estimated.
Volume by strike · Fri, Sep 25
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Sep 25
— call IV— put IVATM ≈ 31.9% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Sep 25
Net dealer gamma per strike, in dollars per 1% move, assuming the standard convention (dealers long calls, short puts) — an assumption, not an observation. Above the amber flip level hedging tends to dampen moves; below it, to amplify them.
Greeks by strike · Fri, Sep 25
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.80
-0.79
865
0.0071
0.35
-0.79
-0.20
0.76
-0.88
870
0.0079
0.39
-0.89
-0.24
0.72
-0.96
875
0.0086
0.42
-0.97
-0.28
0.67
-1.04
880
0.0092
0.45
-1.05
-0.33
0.63
-1.10
885
0.0096
0.47
-1.11
-0.38
0.60
-1.12
887.5
0.0098
0.48
-1.13
-0.40
0.57
-1.14
890
0.0099
0.49
-1.15
-0.43
0.53
-1.16
895
0.0101
0.49
-1.17
-0.48
0.47
-1.16
900
0.0100
0.49
-1.17
-0.53
0.43
-1.14
905
0.0099
0.49
-1.16
-0.58
0.38
-1.10
910
0.0096
0.47
-1.12
-0.63
0.35
-1.08
912.5
0.0094
0.46
-1.09
-0.65
0.33
-1.05
915
0.0092
0.45
-1.06
-0.68
0.31
-1.02
917.5
0.0089
0.44
-1.03
-0.70
0.29
-0.98
920
0.0086
0.43
-1.00
-0.72
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 60 are in the CSV. Δ per $1 of underlying · Θ per day · vega per IV point.
Stacked — layer the expirations
Call open interest per strike, stacked across the checked expirations — each color is one expiry. Strikes are pruned to the liquid center of each chain.
Max pain is arithmetic, not prophecy: the settle price that would minimize what option writers pay out at expiration, computed from open interest alone. Prices sometimes gravitate toward heavy strikes into expiry — dealer hedging is a real flow — but the evidence that max pain predicts settlement better than chance is mixed, and we are not going to pretend otherwise. Use it as a map of where positioning is stacked, next to the fundamentals and the earnings calendar, not as a target.
Data: Cboe delayed public feed (~15 minutes), refreshed here about every 15 minutes. Open interest itself updates once daily, before the open. Educational information, not investment advice.